Global Fiber Optic Sensors Market 2024-2028
The fiber optic sensors market is forecasted to grow by USD 1318.64 mn during 2023-2028, accelerating at a CAGR of 8.78% during the forecast period. The report on the fiber optic sensors market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by high deployment of fiber optic sensors in applications involving high temperatures, surging demand for fiber optic sensors in infrastructure sector, and need for enhanced safety and emergence of new refinery projects.
Technavio's fiber optic sensors market is segmented as below:
By End-user
- Oil and Gas
- Building and Construction
- Aerospace and defense
- Power and Energy
- Automotive and others
By Type
- Intrinsic sensors
- Extrinsic sensors
By Geographical Landscape
- North America
- Europe
- APAC
- Middle East and Africa
- South America
This study identifies the shift from copper to optic fibers as one of the prime reasons driving the fiber optic sensors market growth during the next few years. Also, increasing adoption of traditional strategies by market vendors and growing demand for data analysis will lead to sizable demand in the market.
The report on the fiber optic sensors market covers the following areas:
- Fiber optic sensors market sizing
- Fiber optic sensors market forecast
- Fiber optic sensors market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading fiber optic sensors market vendors that include AP Sensing GmbH, Aragon Photonics Labs. S.L.U., Bandweaver, Banner Engineering Corp., Baumer Holding AG, Coherent Inc., FBGS Technologies GmbH, Honeywell International Inc., Hottinger Bruel and Kjaer GmbH, ifm electronic gmbh, Keyence Corp., Luna Innovations Inc., Northrop Grumman Corp., OMRON Corp., Prysmian Spa, Resonetics, Rockwell Automation Inc., Sensuron LLC, SICK AG, and Yokogawa Electric Corp.. Also, the fiber optic sensors market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.